Sacco Societies Act

38. Investment by Sacco societies

Edition: 2025-06-20 · In force

38. Investment by Sacco societies

(1)The funds of a Sacco society may be invested in—

(a)securities, obligations or, other debt instruments issued or guaranteed by the government or any agency of the government;

(b)deposits, obligations or other accounts of deposit-taking institutions under the Banking Act (Cap. 488);

(c)shares, stocks, deposits in, loans to or other obligations of any Sacco society or co-operative society.

(2)An investment made under this section shall not in the aggregate, exceed such proportion of the total core capital and deposits of a Sacco society as the Authority may prescribe.

(3)A Sacco society shall not purchase or acquire any land or any interest or right therein except as may be reasonably necessary for the purpose of conducting its deposit-taking business and where such investments do not exceed such proportion of the total assets of the society as the Authority may prescribe.

← Previous provision Next provision →

Source: Kenya Law